Smith, the Sixth Man of the Year Award winner this past season, was the second leading scorer on the Knicks with 18.1 points per game along with 5.3 rebounds and 2.7 assists.
The Knicks own what are called his “Early Bird Rights” and are allowed to go over the salary cap to sign him. It had been previously reported that the Bucks and Pistons were also interested in Smith.
According to SNY.tv’s Moke Hamilton this is what the deal is when it comes to Smith’s salary cap ramifications if the Knicks do in fact re-sign him.
Because Smith would be an early Bird free agent if he opts out this summer, under the first calculation, the Knicks can offer him a starting salary of $4.9 million by using the 175 percent rule.
Under the second calculation, they could offer Smith 104.5 percent of whatever is the average player salary for the 2012-13 season, a number we won’t know until July 1, 2013, when the league’s finances for the previous season are fully accounted.
But for all intents and purposes, we can safely assume that the average player salary will end up being around $5.34 million. Under the second calculation, the Knicks could give Smith a starting salary of $5.58 million.
So, that’s it.
The most the Knicks can offer Smith in year one of a new deal would be $5.58 million.
Tommy DeeI’m VERY interested in seeing the details if and when this gets finalized…